A company (which is not a member of a group) has the following results for the 14
Question:
A company (which is not a member of a group) has the following results for the 14 months to 31 December 2020:
Accrued building society interest was £3,000 on 31 October 2019, £4,000 on 31 October 2020 and £nil on 31 December 2020.
Compute the company's total corporation tax liability for the 14-month period and state the date (or dates) on which this tax is due to be paid.
Transcribed Image Text:
Adjusted trading profit, before deduction of capital allowances Capital allowances claimed: Year to 31 October 2020 2 months to 31 December 2020 Chargeable gains: Disposal 12 May 2020 Disposal 6 November 2020 Building society interest: Received 31 December 2019 Received 31 December 2020 Dividend received on 25 September 2020 1,413,510 222,650 37,210 16,586 21,692 3,500 4,300 3,150
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To calculate the companys corporation tax liability for the 14month period to 31 December 2020 we need to take into account several components including adjusted trading profit capital allowances char...View the full answer
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